Toledo Molding withdraws $225 million term loan B from market

By Sara Rosenberg

New York, Oct. 15 – Toledo Molding & Die Inc. pulled its $225 million seven-year term loan B from the primary market as a result of poor market conditions, according to a market source.

The loan had been talked at Libor plus 500 basis points to 525 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for one year.

J.P. Morgan Securities LLC was the lead bank on the deal.

Proceeds were going to be used to refinance existing debt and fund a dividend.

Toledo Molding is a Toledo, Ohio-based full-service automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies.

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